TrackWise Business Intelligence Solution

As companies contend with increased regulation, competition and globalization, the ability to leverage and analyze quality-related data to gain insight across the enterprise is critical. Organizations of all sizes are turning to business intelligence (BI) tools that empower end-users to develop reports and conduct ad-hoc analysis on real-time data. Most of these business intelligence tools are not true business intelligence solutions. These BI tools provide data exploration and visualization capabilities, but leave the onus on already strapped IT departments to develop complex SQL scripts to locate, extract and reassemble data before these BI tools can be leveraged.

What is Business Intelligence?

Simply put, business intelligence transforms raw data into meaningful information through various methods and technologies for the purpose of making business decisions. The adoption of business intelligence platforms is being driven by corporate initiatives designed to increase competitive advantage and improve the long term strategic view of the organization by leveraging cross-functional data.

One can find similar analogies with the adoption of ERP (Enterprise Resource Planning) systems that are driven by corporate initiatives aimed at streamlining operations across the different functions of the business. Very often business intelligence platforms are built on-top of ERP systems and their data. Another similarity to ERP systems is the large scale, complex architectures and the teams of resources required to support them. After such significant investments, the resulting BI platform typically supports senior management and executives who are looking at a top down view across the entire organization, but does not support the decisions of day-to-day operations within individual departments or operating units.

TrackWise Business Intelligence System Overview

TrackWise Analytics places the power of data in the hands of the end user. It delivers a true business intelligence solution by supporting evolving customer needs with a self-service model that provides:

embedded real-time analytics

ad-hoc analysis and reporting

a dynamic, intuitive user interface

mobile and offline analysis

predictive data analytics modeling which can be used to mitigate risk and identify opportunities

The TrackWise Analytics Business Intelligence Solution allows end-users to gain insight into every aspect of quality across the enterprise and provides the data necessary to foster strategic development, formulate plans, develop predictive data analysis models, and optimize business operations in a self-service model that enables greater data availability while eliminating the dependence on IT. This is accomplished by automating the metadata creation process in real-time and making familiar data objects available directly to end users so they can analyze what they want and when the want to instead of just standard monthly or quarterly reports.

Predictive Analytics (now included with TrackWise Analytics)

Predictive analytics software enables organizations to turn historical data into a predictive data model that can provide proactive and actionable information which can be used to mitigate risk and identify opportunities that are likely to generate the greatest value for the organization. Predictive analysis software works by finding patterns in historical data so that one can make predictions about what is likely to happen under the same circumstances or conditions in the future.

Three key areas where organizations can apply predictive analytics software to make data-driven decisions include:

Quality in the manufacturing process: During the manufacturing process, a company can use predictive analytics to assess where failures are likely to occur during a product’s manufacturing and build a model to determine where these failures are likely

Product performance in the marketplace: Once a product has reached the marketplace, manufacturers track a variety of data that can be leveraged for predictive data analytics, including how a product is being used, where it is being used and how long it has been in use. By examining these factors, a manufacturer can determine which conditions/factors are most likely to cause a product to fail while in the hands of an end-user

To shape future business direction: Predictive analytics software can also help assess the potential value of new products, markets and other business opportunities. Extrapolating historical data on the results of previous initiatives enables a manufacturer to predict the likelihood of success for products in its pipeline and other planned ventures

Manufacturers from a variety of industries can leverage predictive data in quality operations to derive proactive and actionable information on which to base strategic business decisions including:

Predicting supplier quality issues

Predicting the likelihood of component failures

Predicting product nonconformity or defects

Predicting complaint volume for a new product launch

Predicting the likelihood of product recalls

Predicting the failure/success rate of future initiatives

Benefits of the TrackWise Analytics Business Intelligence Solution:

Enable executive visibility and transparency across your enterprise quality system

Now Available – TrackWise Mobile Analytics App

TrackWise Mobile Analytics allows for the consumption of reports and analytical output, including interactive capabilities such as sorting, filtering, calculations and adaptive charting. Managers and executives will now be able to more rapidly gain insight from data, allowing them to be proactive in decision making regardless of their physical location. Download the TrackWise Analytics app for iPhone and iPad at the App Store.